No matter how well you plan to keep your balance maintained, sometimes unexpected big purchases continuously lower your credit card balance. But many times, credit cards offer great convenience for their users. Receiving approval for a credit card with a poor balance and bankruptcy is a challenge but, in this case, second chance credit cards with no security deposit are the best solution. Thankfully, the best Second Chance Credit Cards with No Security Deposit can help you get back on track.
Even with a few flaws in your credit report the second chance credit card requires lenient approval terms and conditions. Although many of the good second chance credit cards require a security deposit still there are favorable options for the best second chance credit card with no security deposit. These credit cards can help you improve your credit score even with few perks and rewards.
Here are the top picks for best second chance credit cards with no security deposit.
Table of Contents
Quick Overview – Best Second Chance Credit Cards with No Security Deposit
- Capital One QuickSilver One Cash Rewards Credit Card – Overall best credit card for cash back rewards
- Petal 2® “Cash Back, No Fees” Visa Credit Card – Best credit card for improving credit score
- Capital One Platinum Credit Card – Bestsecond chance credit cards
- Mission Lane Visa® Credit Card- Best credit card for build great credit habits
Charting the Best Second Chance Credit Cards with No Security Deposit
| Card | Annual Fee | Best For | Credit Score | Welcome Bonus |
| Capital One QuicksilverOne Cash Rewards Credit Card | $39 | Cash back rewards | Fair (580 – 669) | None |
| Petal 2® “Cash Back, No Fees” Visa Credit Card | No annual fee | Improving credit score | Bad (300 – 629) | None |
| Capital One Platinum Credit Card | No annual fee | Second chance credit cards | Fair (580 – 669) | None |
| Mission Lane Visa® Credit Card | No annual fee | Building great credit habits | Bad (300 – 629) | $20 statement credit after your first purchase and on-time payment |
Capital One QuickSilver One Cash Rewards Credit Card
| Annual Fee | $39 |
| Regular APR | 30.74% (Variable APR) |
| Credit Score Required | Limited, Average, Fair |
| Welcome Bonus | Not Applicable |
This card is geared toward all individuals with limited credit scores. As this can earn you a cashback of 1.5% so it is a better way to build your credit with the passage of time. Being the stellar credit card in the list of best second chance credit cards with no security deposit, you can gain access to higher line credit with in the duration of 6 months.
Details of the #1 Best Second Chance Credit Cards with No Security Deposit
- With this credit building credit card, you earn unlimited 1.5% cash back on every purchase
- There are no rotating categories to keep tabs on and the cash back wont expire until you have the account
- With one of the best second chance credit cards with no security deposit, you will be automatically considered for higher credit in a span of 6 months
- With $0 fraud liability you won’t be held responsible for unauthorized charges
- With the responsible use of this second chance credit card you could strengthen your credit
- Earn 6 months of complimentary Uber One membership credit through this card
- Earn unlimited 5% cash back on hotels and rental cars that are booked through Capital One Travel where you get the best prices of the trips
- Keep a check on the credit score with Credit Wise from Capital One
- Check out quickly using the contactless security card for your ease
Best Cash back credit Cards
You can save money while still buying stuff. Yes, you head it right. With the best cashback credit cards, you can get a reward rate upto 5% on groceries, gas station , restaurants and more.
Petal 2® “Cash Back, No Fees” Visa Credit Card
| Annual Fee | $0 |
| Regular APR | 18.24-32.24% (Variable APR) |
| Credit Score Required | Limited, Average, Fair , Good, Excellent |
| Welcome Bonus | Not Applicable |
Being in the list of the best second chance credit cards with no security deposit, the Petal 2 Choice is the preferred choice. This card comes with no annual fees and you get the chance to see that if you are pre-approved for this card or not without impacting your credit score. If you pay your monthly balance each month, you can easily build solid credit history with this card.
Details of the #2 Best Second Chance Credit Cards with No Security Deposit
- No annual, foreign transaction and late fees
- Earn 1.5% cash back on qualifying purchases within the duration of 12 months
- Earn 1% cash back on all the eligible purchases
- Get 2%-10% cash back on qualifying merchant purchases
- With the best second chance credit cards with no security deposit, the credit limits are in the range $300-$10,000
Capital One Platinum Credit Card
| Annual Fee | $0 |
| Regular APR | 30.74% (Variable APR) |
| Credit Score Required | Limited, Average, Fair |
| Welcome Bonus | Not Applicable |
This one is a straightforward card that charges no annual fee and offers you the chance to boost your credit with its responsible use. Being the low-cost annual fee option with a high APR , it is good to use the card for everyday purchases and recommended to pay the balance in full.
Details of the #3 Best Second Chance Credit Cards with No Security Deposit
- Being in the list of the best second chance credit cards with no security deposit, It comes with no hidden charges and extremely lenient terms and conditions
- Automatically eligible for a higher credit line in a tenure of 6 months
- With $0 fraud liability, you won’t be held responsible for any unauthorized charges
- Easily monitor your credit score with Credit Wise from Capital One.
- Easily check your account balance and other details using the Capital One mobile application
- A secure, contactless card that works well with the convenience of a tab
- With one of the best second chance credit cards with no security deposit card you can choose the monthly due date on which you can easily make payments
Mission Lane Visa® Credit Card
| Annual Fee | $0 -$59 |
| Regular APR | 26.99%- 29.99%(Variable APR) |
| Credit Score Required | Poor, Average, Fair |
| Welcome Bonus | $20 statement credit after your first purchase and on-time payment |
Being one the best second chance credit cards with no security deposit, you can prequalify for the card for customized rates and fees with no overall impact on the credit. Although rewards are not part of the card but you gain access to free credit-building resources. Apart from that, you will be automatically considered for a higher credit line for the duration of seven months.
But in the future, you may be able to qualify for the 1%-1.5% cashback on qualifying purchases depending upon your credit situation. The downside of this card is that the foreign transaction fee of 3% is deducted from each transaction outside the U.S.
Details of the #4 Best Second Chance Credit Cards with No Security Deposit
- With this card you gain access to free credit score
- No additional interest charges are applicable when you pay your balance full each month
- With one of the best second chance credit cards with no security deposit, you will be automatically considered for higher credit line in a duration of 7 months
- Get access to your account information anywhere with your mobile application
- The charged interest rate will be no less than the $0.50
Frequently Asked Questions
How do I secure best second chance credit cards with no security deposit?
As the second chance credit cards not advertised publicly well , so yo u must have to ask your credit card issuer for credit-building credit cards. Depending upon your financial situation and credit score majorly , you can select a good option in the list of the best second chance credit cards with no security deposit for credit- building.
Can you get second chance credit card with poor credit ?
Yes, if you have a bad credit card you still can apply for credit cards and get an approval . Look for the viable option in the list of best second chance credit cards with no security deposit and give the credit card a try to build your credit score.
Can I get a second same credit card?
Yes in some cases depending upon the credit card issuer. Most of the issuers gives you the chance to get the same credit card. But there are certain terms and conditions applicable and you need to check them in detail .
